Why should we talk with Meta about our long-term financial goals?
A single piece of financial advice can significantly improve your outlook. We model how your net worth will improve as a result of our advice – your long-term finances before, and after working with us will be clearly shown. As Kiwi’s knowledge of financial matters increases there is a growing expectation that people should have a base level of understanding of what they are being told by ‘experts’ – our process is completely transparent with no ‘rules of thumbs’ used here!
When should we talk to Meta about buying our first home?
The earlier the better! Even if you think you are 2 to 3 years away from buying a home, come and talk to us because we may be able to get you there sooner than you think. Whether it’s getting your savings working smarter, or consolidating debts you may have, we’ll give you a greater array of options than you may have considered.
Which lenders do Meta work with?
We are accredited with all the main banks as well as several other companies that provide mortgage lending. We are seeing more and more clients get really good outcomes with non-bank lenders – think of them as a smaller ‘bank’ that can offer a more individualised solution for you. They are more forgiving in regards to your chosen profession, employment history, loan purpose and will consider your situation even if you do not have impeccable account conduct or credit history for example.
How much can I borrow?
When determining how much you can borrow lenders will look at a number of factors including, your income, credit history and employment circumstances. Each lender has its own criteria when assessing how much you can borrow – we understand that and are experienced at working with multiple lenders to get the best option for you.
What interest rate will you get for my home loan?
Interest rates are set by the lender based on the size of your loan relative to the house price and your deposit. We’ll also help you focus on the best rate at which to pay your home loan to maximise your investment, not just the interest rate yourself.
How long is the pre-approval process?
Once we have your completed information and necessary documentation, we’ll send your application off to a lender within 24 hours. Typically, pre-approval from a lender will take 5-10 working days.
When do I pay the deposit?
This will depend on the method of purchase – auction, tender, private sale. It is generally payable once all the terms in a Sale & Purchase agreement have been met and an ‘unconditional’ offer is accepted by the seller (unless you are required to pay the deposit upon signing the contract).
How do I use my KiwiSaver towards a deposit?
If you are buying your first home and you wish to put your KiwiSaver towards the deposit, then your solicitor must apply to withdraw those funds on your behalf. You will need to allow time for this to happen, typically 12-15 working days, and may wish to include this in the terms of the Sale & Purchase agreement to ensure the funds are in place on time. Don’t worry we’ll guide you through the process when the time comes!
What if I don’t live in Auckland…or New Zealand?
We have helped clients throughout New Zealand buy property, either to live in or as an investment, and provided them with peace of mind by arranging the right type of insurance specific to their needs. If you live outside New Zealand and want to buy? No problem! With the technology available to all of us, it is easy to secure a property ready for you when you choose to return to NZ no matter where you are currently in the world.
Can I use a guarantee?
If you haven’t quite reached a 20% deposit, then your family can guarantee the difference, or the entire 20%! This is capped at 20% of the house price so that they don’t risk losing everything if things don’t work out!
What other costs do I need to consider when buying my first home?
Generally, you’ll need to allow for all or some of; solicitor’s fees, LIM + building reports, registered valuations, house insurance etc. It could be between $2,000-$5,000, but we’ll help you work out a budget to allow for these as part of the overall cost of purchase.
I have heard that personal risk insurance can be expensive, how do I decide which is the most important and ensure my family is protected?
That’s the job of a professional Adviser. The financial modelling we conduct provides an essential insight, not only into what types of insurance might be appropriate and in what amounts, but also how long you might need it for. Understanding this is central to how you might structure a policy. Balancing the cost remains a factor though, and the software helps to determine what might be a reasonable amount to spend given your wider finances.
I am self-employed – do I need to switch to ACC Cover Plus Extra?
‘ACC Cover Plus Extra’ is an alternative – arguably much better, ACC plan available for anyone self-employed. As this is an insurance product, we always recommend seeking advice from the Meta team regarding the benefits to restructuring your ACC. Generally, we will sit with you and show you how to get better, smarter cover with private insurance and make significant savings on your ACC levies. Watch our quick video on this here.
What do Meta Financial Solutions contribute to the wider community?
For every new customer that we help buy their first home we donate to Trees that Count. This helps ensure all New Zealanders’ can enjoy our beautiful country by planting trees and restoring habitat throughout New Zealand.
We are passionate about improving financial literacy for our young people and are workshopping ideas with our local Citizens Advice Bureau to implement this to high-school children. Watch this space.
KiwiSaver is a voluntary savings scheme in New Zealand. Individuals can use it to save for their retirement. If you have been contributing to KiwiSaver for at least three years, you may be eligible to withdraw your savings in certain circumstances. In this article, we will study the different ways you can withdraw your KiwiSaver.
Traditionally, in January, we look at our current position. We make big decisions about what to change in the upcoming year. Whether our goal was to lose weight, pay off the mortgage or increase our retirement savings unfortunately, we sometimes falter by February. There are strategies that actually work to enhance our chances of success.
Set yourself up for success, before you start shortlisting properties and planning what you’ll do with your quarter acre. Seek out experts and accept help. In fact, we're here to guide and plan your homeownership journey right from the moment you start your career! “When you align all actions to a single outcome, and you keep working at it, your success will look effortless and obvious to the outside.”
Whether you’ve just bought a new home or you’ve received a letter from your bank to fix or refix your mortgage, the question of whether to fix or float will inevitably arise. Making the right choice for your financial future is worth getting advice on.
Have you ever wondered about the role of non-bank lenders in the New Zealand lending market? Often overlooked in favour of traditional banks, non-bank lenders are an excellent alternative worth exploring. In this article, we'll delve into the intricacies of non-bank lending institutions, dispelling common misconceptions and shedding light on their vital role in New Zealand's home loan market.
Financial Planning combines a personalised financial plan, carefully engineered by a Financial Advisor, to illustrate the path towards earlier financial freedom. Our Financial Cashflow Modelling software maps your journey, spanning your life decisions all the way to age 100. Our plan will consider your wellbeing, ideal lifestyle, home life, family, business, work and long-term aspirations. This will give you the confidence needed to understand your financial situation and make the best decisions for tomorrow. Read on to see how we'll help you obtain financial freedom and peace of mind earlier.
In this series of articles, we will begin by exploring the various life and health insurance options and organising them in order of priority, specifically tailored to the needs of most New Zealanders. Following that, we will delve deep into the realm of Health Insurance. Finally, we will discuss the recommended approach for investing in your insurances, ensuring that they remain affordable for as long as you require cover.
This situation arises in the aftermath of relationship changes, whether it's between partners ending their joint lives, or simply friends or family who purchased a home and now seek to go their separate ways.
Contemplating our own mortality is never easy. However, preparing for the future can ease the uncertainty for our loved ones once we're gone. Leaving this world without clear legal instructions regarding your finances and assets can place your family in a difficult situation.
New Zealand has experienced a surge of opportunity in recent years, as an abundance of newly constructed homes has emerged across the country. This bountiful supply of properties has not only made it easier for first home buyers but also captivated the attention of savvy investors. With a myriad of choices spread out before them, both groups find themselves amidst a housing market brimming with potential and possibilities.
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